Another Setback for NetApp

Shares of the maker of networked storage gear tumbled Friday after it cut its fiscal first quarter outlook for the second time

Hopes for a revival in corporate spending on computer storage products were crushed again for Network Appliance (NTAP). The Sunnyvale (Calif.) company cut its outlook for its fiscal first quarter for the second time, sending its stock tumbling to a new low for the year. The problem: continued softness in enterprise storage spending in the U.S. and parts of Europe.

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